> And when the cash dries up this whole thing comes crashing down like a house of cards.

The problem in this market is that too many players are trying to play a winner-takes-all angle.

For the companies that pull it off, it could be very lucrative.

In a real market we’ll get a couple of big winners rather than one, but there isn’t enough room for all of these moonshot efforts to land.

I don’t see the whole thing coming crashing down, but I do see a consolidation coming that leaves some companies in a very bad state.